Pacer Advisors Inc. Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Pacer Advisors Inc. boosted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 117.5% in the 4th quarter, HoldingsChannel reports. The fund owned 53,778 shares of the company’s stock after buying an additional 29,053 shares during the quarter. Pacer Advisors Inc.’s holdings in Bentley Systems were worth $2,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems during the third quarter valued at approximately $88,771,000. Swedbank AB grew its holdings in Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after acquiring an additional 1,000,000 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Bentley Systems in the third quarter valued at about $42,773,000. Handelsbanken Fonder AB raised its stake in shares of Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after acquiring an additional 390,000 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in shares of Bentley Systems by 60.9% during the third quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock worth $34,752,000 after purchasing an additional 258,992 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.29.

Bentley Systems Price Performance

Shares of BSY stock opened at $46.55 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.41 and a beta of 1.04. The business’s fifty day moving average is $47.49 and its 200 day moving average is $48.60. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. Bentley Systems’s payout ratio is currently 21.62%.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.